Thursday, Sep 04, 07:27 GMT
EUROPEAN Trading Newsletter
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International Traders Conference 2008 − October 29−31
This year's topics are Trading Psychology, Emerging Markets Currencies, Hidden Divergence, Risk Management, Range Trading, Support and Resistance, Break Out Trading Strategies and Sentiment Indicators.
And there will be 3 LIVE TRADING sessions coached by our guest speakers!
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- Speeches Schedule
- Speakers Panel
- Haven't you decided to go yet? − View all 2007 videos
Forex Blogs
Recommended Readings
FX Market Readings: Is it recovery move? by Dr. S. Sivaraman
EURO and GBP made the quick rise towards close of the European session and now after a drop to hit the trailing stops of some of the lower level buyers the market is slowly firming up as expected. EURO and GBP made the uncertain drops for month beginning quickly as traders were waiting for ECB and BOE decisions.
1st on Forex: Currencies Await UK and ECB Interest Rate Announcements by Jerry Furst
FxBootcamp: Forex Video − News Trade Alert − September 4, 2008 by Wayne McDonell
Live Sessions Schedule
Main technical theme in the currency market
Expert: Jamie Saettele
Start: Thu, Sep 4, 13:00 GMT
Sponsored by: 
Type of Session: Webinar
Using Fibonacci Retracements to Find Trades
Expert: John Jagerson
Start: Thu, Sep 4, 14:00 GMT
Type of Session: Webinar
| Sponsored by | ||||
| Thu, Sep 4, 11:00 GMT | FX Instructor Live Trading Room  | Mark De La Paz | WBN |  |
| Thu, Sep 4, 12:00 GMT | US Pre−Market Open | Ed Ponsi | WBN |  |
| Thu, Sep 4, 13:00 GMT | Main technical theme in the currency market | Jamie Saettele | WBN | |
| Thu, Sep 4, 13:30 GMT | US Session Open | Ed Ponsi | WBN | |
Current Session: Europe
EUR/USD
Daily Recommended Trades − The Euro recovered on yesterday after testing bids into the 1.4390 zone by E−Forex
The Euro recovered on yesterday after testing bids into the 1.4390 zone. Minor resistance is seen at 1.5430/40 and a sustained break should encourage further gains towards next barrier at 1.4590/00. Large moves across the board are possible today due to ECB's rate decision. The downside remains on focus and the Euro may face fresh selling interest into the 1.4600 region, if reached later. On the downside, support emerges at 1.4470 backed by 1.4380/90. Longer term support is formed at 1.5485 by the 61.8% retracement of the 1.3360−1.6040 move.
- Currencies Await UK and ECB Interest Rate Announcements Jerry Furst, Director Investors Education Network
- Institutional Trading Strategies by John Jagerson, Founder Profiting With Forex
- Check out how pairs moved: Live Currency Rates & Charts
Other Topics for this Session:
Currency Majors Technical Analysis by Mataf.net
Currency Performance
Currency Performance Report − Asia Session Performance by FXstreet.com
Currencies at a Glance
- EUR/USD
- Trades around opening price level 1.4496 , above pivot level 1.4471
09/04/2008 06:59 GMT - GBP/USD
- Back around opening price level 1.7766 , above pivot level 1.7757
09/04/2008 07:00 GMT - USD/CHF
- Moves down below opening price level 1.1061 , below pivot level 1.1091
09/04/2008 07:00 GMT - USD/JPY
- Moves down below first support level 107.89
09/04/2008 07:01 GMT
Analyst Sentiment Index (ASI)
Analysts Sentiment Index - EUR/USD
**Source : ActionForex.com, CMS Forex, Danske Bank A/S, FXstreet.com, Global Forex Trading, Mizuho Corporate Bank
[ View ASI page ] [ View EUR/USD page ]
Charting the Market Movers
USD JPY, Hourly
GBP USD, Hourly
Top Market Movers Preview
UK BOE INTEREST RATE DECISION
| Date (GMT) | Event | Cons. | Previous | |
| Sep 4 | 11:45 | ECB Interest Rate Decision | 4.25% | 4.25% |
| Sep 4 | 11:00 | BoE Interest Rate Decision | 5% | 5% |
Central Banks: ECB and BoE - Preview of Sep 4 meetings by FXstreet.com
The BoE as well as the ECB's monetary policy committees will, most likely, keep interest rates on hold tomorrow, amid fears of the economy worsening over the next quarters, which could put pressure on the Banks to cut rates over the coming months.
[ Full Story ]- Bank of England set to hold rates steady at 5 pct (Thomson Financial News)
- UPDATE: Ex−BOE Gov: Technical Recession Can't Be Ruled Out (Dow Jones)
London Bullion Report - Gold consolidates, platinum under pressure ahead of rate news by The Bullion Desk
Weekly Analysis - Eye on Storm and Central Banks by Finotec Group Inc.
Top Market Movers Review
Australia TRADE BALANCE
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 4 | 01:30 | Trade Balance | -717M | 100M | 411M |
DATA SNAP: Australia Jul Trade Deficit A$717M (Dow Jones)
Australia's seasonally adjusted balance on trade in goods and services switched to a deficit of A$717 million in July from a surplus of A$351 million in June, the Australian Bureau of Statistics said Thursday. The figure contrasts with analysts' expectations of a surplus of A$150 million. Australia recorded a deficit of A$964 million in the year−earlier period.
[ Full Story ]- Read the Trade Balance report at Australian Bureau of Statistics
US FED'S BEIGE BOOK
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Sep 3 | 18:00 | Fed's Beige Book | - | - | - |
Beige Book finds slow economic activity in most of the 12 Fed districts (Thomson Financial News)
Economic activity continues to be slow in most parts of the US as a result of slower consumer spending, higher prices, reduced manufacturing activity and ongoing weakness in real estate, the Federal Reserve said in its August "Beige Book" survey of economic conditions in the 12 Fed districts.
[ Full Story ]- Read the Beige Book report at Federal Reserve
US economic indicators - Beige Book: weak growth amid moderate inflationary pressure by BHF−Bank
Economic Events
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Sep 3 | 13:00 | CA | BoC Interest Rate Decision | 3% | 3% | 3% |
| 14:00 | US | Factory Orders (Jul) | 1.3% | 0.7% | 2.1% |
|
| 18:00 | US | Fed's Beige Book | ||||
| Sep 4 | 01:30 | AU | Trade Balance (Jul) | -717M | 100M | 411M |
| 10:00 | DE | Factory Orders n.s.a. (YoY) (Jul) | -3.4% | -6.1% | ||
| 10:00 | DE | Factory Orders s.a. (MoM) (Jul) | 0.0% | -2.9% | ||
| 11:00 | UK | BoE Interest Rate Decision | 5% | 5% | ||
| 11:45 | EMU | ECB Interest Rate Decision | 4.25% | 4.25% | ||
| 12:15 | US | ADP Employment Change (Aug) | -20K | 9K | ||
| 12:30 | US | Continuing Jobless Claims (Aug 23) | 3423K | |||